contract specifying a price and quantity of the final good to be traded will, fairly generally, induce efficient investments if …, 1996). Second, and in contrast, no contract however complicated is of any value in reducing the inefficiency if the …). We show that courts of law may play a more important role in real contract disputes than has been realized. The key …

judge, with the contract as the signal. The judge is assumed to be bound by the content of the contract (in as far as it can …

with type. When network effects are homogeneous, the optimal entry-deterring contract is a flat fee that results in the …

service. This paper analyzes how buyers optimally contract with sellers who vary in their expertise at prescribing service. We … provided they contract sequentially whereby terms are negotiated gradually as the supplier acquires information …